Pakistan stocks close higher, rupee strengthens, o/n rates rise

Last Updated: Thu, May 09, 2013 12:30 hrs

KARACHI, May 9 (Reuters) - Pakistan's stocks closed higher on Thursday, powered by substantial foreign flows, dealers said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.97 percent, or 188.91 points, higher at 19,661.46 points.

Muslim Commercial Bank Ltd led the rally, climbing 5 percent to 237.56 rupees. Engro Corporation Ltd, which was up 1.63 percent to 139.25 rupees.

In the currency market, the rupee ended at 98.37/98.43 against the dollar, stronger than Wednesday's close of 98.41/98.46

Overnight rates in the money market rose to 9.40 percent from Wednesday's close of 7 percent. (Compiled by the Karachi newsroom)

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